Pune, India, May 08, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s analysis reveals that the global automotive pedestrian protection system market is anticipated to expand at a CAGR of 11.80% during the forecast period 2016 to 2023. The global market is expected to grow from USD 994.16 Mn in 2017 to USD 2,143.3 Mn by the close of 2023. An upswing is being observed in the vehicular traffic all over the world which is expected to boost the growth pattern of the market in the years to come.
Road accidents are rising at an alarming rate which is likely to motivate the governments to take necessary actions for ensuring the safety of passengers as well as pedestrians. Every year more than a million people succumb to fatal injuries in road accidents. This, in turn, has intensified the adoption of pedestrian protection system in the automobiles and is anticipated to augment the market over the assessment period. Case to the point is, the Institute of Road Traffic Education (IRTE) has partnered with a U.K. based charity, Global New Car Assessment Programme (GNCAP), for the launch of 'Stop The Crash' campaign in India which was supported by the Ministry of Road Transport and Highways (MoRTH). Additionally, it was also stated in the event that all new cars are mandated to have pedestrian safety feature.
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The increasing demand for automobiles is poised to attract inflow of investments in the upcoming years. Key players are also focusing on bringing innovative products such as redesigned auto components for meeting the highest standards of safety and minimizing the impact on pedestrians.
Key Players:
The noted players of the global automotive pedestrian protection system market are Robert Bosch GmbH, Continental AG, Aptiv PLC, Autoliv Inc, Magna International Inc, DENSO, ZF, WABCO Holdings, Inc, Mobileye, Valeo, AB Volvo, Nissan Motor Company Ltd, and Subaru Corporation.
Market Segmentation:
This MRFR report offers a detailed segmental analysis of the global automotive Pedestrian Protection System Market based on technology, component type, type, and vehicle type. By technology, the market has been segmented into active pedestrian protection system and passive pedestrian protection system. Among these, the passive pedestrian protection system segment is poised to dictate the growth pattern of the market and scale a relatively higher CAGR over the assessment period.
Based on component type, the market has been segmented into sensor, actuator, control unit, cameras, and others. The sensor segment is anticipated to account for the maximum share of the market owing to its extensive use in pedestrian detection assistance, alerting driver, etc.
The automotive pedestrian protection system market, by type, has been segmented into automatic braking & collision avoidance, brake assist, external airbags, and pop-up bonnets. Among these, the automatic braking and collision avoidance segment is leading the market growth and is anticipated to retain its forefront position over the next couple of years. It is also poised to exhibit a higher growth pace across the review period.
By vehicle type, the market has been segmented into internal combustion engines (ICE) vehicles, electric vehicles, and hybrid vehicles. The internal combustion engines (ICE) vehicles segment presently holds the maximum share of the market. It is prognosticated to maintain its prominence through the forecast period.
Asia Pacific set to exhibit a steep rise in the growth curve
The geographical assessment of the global automotive pedestrian protection system market encompasses four regions - North America, Europe, Asia Pacific, the Rest of the World (RoW). North America holds the largest share of the global market and is poised to maintain its dominance in the forthcoming years. The growth trajectory of the regional market is supported by the availability of high per-capita income in conjunction with stringent laws concerning pedestrian safety. Meanwhile, Asia Pacific is forecasted to thrive rapidly reflecting a CAGR of 12.28% over the projection period. Increasing road traffic is encouraging the growth of automotive pedestrian protection system market in the region.
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Latest Industry News:
Chinese automaker Geely’s pure electric brand, Geometry, has unveiled its first model. The new model introduced is equipped with a comprehensive configuration of active and passive safety features including AEB-P Automatic Emergency Braking with Pedestrian Detection.
Maruti Suzuki India Limited, an automobile manufacturer, has introduced updated models of Celerio and Celerio X with advanced safety features for meeting Bharat New Vehicle Safety Assessment Program (BNVSAP). The Celerio has got features like pedestrian protection system, ventilated front disc, etc.
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